Hi! I have entered my rental property assets in Wages & Income > Rental Properties and Royalties > Assets / Depreciation. This includes my rental property itself, as well as the improvements I've made that are greater than $10k (exceeding safe harbor for small taxpayers requirements). For each asset, Turbotax has calculated out all the depreciation amounts, and reflected it in the Your Property Assets. However, these asset depreciation seems to have no impact on my actual tax summary (no change in refund, all values in tax summary remains the same). And when I exit the section and look at the Assets / Depreciation amount in my rental property summary, it is $0.
Why could asset depreciation not be included in the actual tax deduction?
